Jim Cramer's 'Stop Trading!': Buy GIS

Buy General Mills GIS, Jim Cramer said on CNBC's "Stop Trading!" segment Monday.

In the wake of a Berkshire Hathaway BRK.A -financed buyout of Wrigley WWY, Cramer said General Mills trades at a "very substantial discount" at these levels.

"People should go back and realize that this company, at 18 times earnings, may be a steal," Cramer said of the cereal maker.

Cramer also pointed viewers to Heinz HNZ, ConAgra CAG and Kraft KFT. "I think all these companies should be re-evaluated upwards after this," he said.

"I think this group has been forgotten about," Cramer said. Investors who think the recession will last a while should think about these names, he said. He said Heinz is a well-run company, and although he's skeptical of Kraft as a takeover target, he said it has good brands. Kellogg K and General Mills might be interesting together, he said.

Cramer praised Wrigley CEO William Perez and predicted he would stay on board after the merger.

Of a potential Mars IPO, Cramer said, "I've worked with that company from time to time ... they hate the glare." He was skeptical that the company would come public. "God love 'em. ... I don't blame em one bit," he said. The company is probably better off without "the endless lawsuits" and "SEC scrutiny" that comes with being public, he said.

Cramer said that investors should approach the idea of a merger between Cadbury Schweppes CSG and Hershey HSY with caution. He said that Hershey has "a lot of self-inflicted wounds," and "Cadbury itself has a lot of issues."

On the other hand, "I think Campbell's CPB is in shape to do a big deal," Cramer said.

For a trade on the $600 tax rebate checks hitting consumers' accounts, Cramer recommended Polo Ralph Lauren RL and Phillips-Van Heusen PVH. He also said that "wealthier people are going to their Apple AAPL Store. It's my favorite thing to do when I'm not working."